Hi everyone,
I am curious to know if there any possibility for any other crypto coin to replicate the feat of Bitcoin or even surpass it in the near future.
There are many feats that Bitcoin, since its creation has been able to achieve. One of which is in the number of people who own bitcoin compared to other cryptocurrencies. To support this statement , let me state Metcalfe's Law. It states that the value of a network is proportional to the square of the number of connected users or devices in the network. In relation to bitcoin, it is so valuable not only due to its uniqueness but also it has multiple use cases in transactions, store of value, investments, remittances, decentralized finance (DeFi) and in other spheres. As it demand is increasing, so will its price. For any new cryptocurrency to replicate this, it would need to attract the same number of users from the bitcoin network to its own which I don't think it possible unless it offers a very unique advantage over bitcoin.